Why Apply?
Small business owners that are looking to grow their business and increase revenue can utilize this program to receive sole-source contracts up to a ceiling of $4 million for goods and services and $6.5 million for manufacturing. If you own a small business and are looking for ways to increase revenue, then the Small Business Administrations 8(a) Program may be for you.
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What is the 8(a) Program?
The SBA 8(a) Program is specifically designed to assist small, disadvantaged businesses compete in the marketplace. This program is an excellent way for small businesses that are struggling to succeed or just starting out to increase revenue.
The 8(a) Program offers a broad scope of assistance to firms that are owned and controlled at least 51% by socially and economically disadvantaged individuals.
The 8(a) Program is an essential instrument for helping socially and economically disadvantaged entrepreneurs gain access to the economic mainstream of American society. The program helps thousands of aspiring entrepreneurs to gain a foothold in government contracting.
Who Qualifies?
Generally, to be approved the business must meet these requirements:
- The business must be majority owned by an individual.
- The individual must be an American citizen (Naturalization is okay).
- The business must be majority owned and controlled by a socially and economically disadvantaged individual.
Socially disadvantaged individuals in regards to this program are:
- Black Americans
- Hispanic Americans
- Native Americans
- Asian Pacific Americans
- Subcontinent Asian American
Economically disadvantaged individuals are any of the above individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities. This also means that assets, income, and net worth fall below certain threshold amounts. These include:
- Assets cannot exceed $4 million
- Personal income cannot exceed $250,000, averaged over 3 years
- Adjusted net worth must be less than $250,000
Why Choose Listo to Obtain 8(a) Certification?
The 8(a) application process can be very difficult to navigate. There are multiple reporting requirements in addition to detailed steps that need to be completed in order to obtain Certification. We have helped many companies over the years become 8(a) Certified. These companies have seen a large increase in revenue after being accepted in the 8(a) program.
Additionally, Listo is a bookkeeping and tax company that has the unique ability to insure the application meets the financial requirements set forth by the SBA.
If you would like to find out if your company qualifies to be 8(a) Certified, fill out the contact info to the right. A Listo representative will contact you.
What are the Costs to Apply?
- Full Application for 8(a) Certification – $3,875
- Application Renewal – $2,875
- Review Already Completed Application – $2,200
- SBA Business Plan – $2,425
- Bookkeeping & Tax Services – Price Depends on Complexity
